Resolution 2550-Authorizing Supt. to apply for State Bond Guarantee
The district has the opportunity to refinance approximately $3,000,000 in bonds at a significantly lower interest rate. The estimate savings to taxpayers will be about $178,000. Using the State Guarantee program the bonds can achieve a higher rating which makes them more marketable and will offer greater taxpayer savings. The approval of this resolution will authorize the superintendent to apply for the state bond guarantee.
Administrative Recommendation: /MOTION/ I move we approve Resolution 2550 as presented